questions 14-19 please
QUESTION 14 Using Absorption/Full Costing, calculate the value of Ending Inventory for January: FACTS: Marty's Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from Marty's Entrees' first two months in business: January Sales .. 1,400 meals Production 2,000 meals Variable manufacturing expense per meal............. $ 5 Sales commission expense per meal. $ Total fixed manufacturing overhead $ 700 Total fixed marketing and administrative expenses $ 500 February 1,800 meals 1,400 meals $ 5 $ 1 $ 700 1 *** $ 500 O $1,000 O $1,100 O $3,000 O $3,210 QUESTION 15 Using Absorption/Full Costing, calculate the value of Ending Inventory for February: FACTS: Marty's Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from Marty's Entrees' first two months in business: ***** January Sales 1,400 meals Production 2,000 meals Variable manufacturing expense per meal.............. S 5 Sales commission expense per meal.... .......... $ 1 Total fixed manufacturing overhead. $ 700 Total fixed marketing and administrative expenses $ 500 February 1,800 meals 1,400 meals $ 5 $ 1 $ 700 . $ 500 O $1,000 O $1,100 O $3,000 $3,210 QUESTION 16 Using Absorption/Full Costing, calculate the value of COGS for January: FACTS: Marty's Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from Marty's Entrees' first two months in business: Sales ..... January 1,400 meals Production 2,000 meals Variable manufacturing expense per meal........... S 5 Sales commission expense per meal............... $ 1 Total fixed manufacturing overhead ...................... $ 700 Total fixed marketing and administrative expenses $ 500 February 1,800 meals 1,400 meals $ 5 $ $ 700 1 e. $ 500 O $7,000 O $7,490 O 59,000 O $9,810 QUESTION 17 Using Absorption/Full Costing, calculate the value of COGS for February: FACTS: Marty's Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from Marty's Entrees' first two months in business: Sales ..... B. ces Production Variable manufacturing expense per meal..... Sales commission expense per meal...... Total fixed manufacturing overhead Total fixed marketing and administrative expenses January 1,400 meals 2,000 meals .... $5 $ 1 $ 700 February 1,800 meals 1,400 meals $ 5 $ 1 $ 700 $ 500 $ 500 O $7,000 $7,490 $9,000 $9,810 QUESTION 18 Using Absorption/Full Costing, calculate Operating Income for January: FACTS: Marty's Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from Marty's Entrees' first two months in business: January Sales ..... 1,400 meals Production 2,000 meals Variable manufacturing expense per meal.............. 5 5 Sales commission expense per meal............... $ Total fixed manufacturing overhead. $ 700 Total fixed marketing and administrative expenses $ 500 February 1,800 meals 1,400 meals $ 5 $ $ 700 1 ***** $ 500 O $3,000 $3,210 O $4,090 $4,200 QUESTION 19 Using Absorption/Full Costing, calculate Operating Income for February: FACTS: Marty's Entrees produces frozen meals, which it sells for $9 each. The company uses the FIFO inventory costing method, and it computes a new monthly fixed manufacturing overhead rate based on the actual number of meals produced that month. All costs and production levels are exactly as planned. The following data are from Marty's Entrees' first two months in business: Sales .... . January 1,400 meals Production 2,000 meals Variable manufacturing expense per meal........... $ 5 Sales commission expense per meal................ $ Total fixed manufacturing overhead $ 700 Total fixed marketing and administrative expenses $ 500 February 1,800 meals 1,400 meals $ 5 $ $ 700 1 1 s $ 500 $3,000 $3,210 O $4,090 O $4,200
